Is Your Remortgage Due Before June 2027? You Could Lock In a Rate Right Now

If your mortgage deal is coming to an end any time between now and June 2027, there's something worth knowing, you may not need to wait until your deal expires to start securing your next one.

In fact, waiting could cost you.

Why So Many People Leave It Too Late

It's easy to put the remortgage conversation off. Life is busy, your current deal is still running, and it feels like a problem for another day. Most people don't start thinking about it until they receive a letter from their lender and by that point, the window to get the best options has often already narrowed.

When a fixed rate ends without anything in place, your lender moves you onto their Standard Variable Rate. SVRs are almost always higher than fixed rate products, sometimes significantly so, and unlike a fixed rate, they can go up at any time. It's one of the most common and most avoidable ways homeowners end up paying more than they need to.

The Good News — You Can Act Early

Many lenders allow you to secure a new mortgage rate up to six months before your current deal ends. Some will go as far as nine months ahead.

That means if your deal is ending any time before June 2027, the window to start exploring your options, and potentially lock something in, is open right now.

Locking in a rate early doesn't mean your payments change immediately. Your current deal continues exactly as it is until it expires. What changes is that you have your next rate secured, agreed, and ready to take over the moment your existing deal ends.

You're not scrambling at the last minute. You're not exposed to whatever the market looks like in the final weeks before your deal expires. You're in control.

What If Rates Change After You Lock In?

This is the question most people ask and it's a fair one.

If you secure a rate and rates then fall before your new deal starts, you haven't necessarily missed out. In many cases, it's possible to review your options and switch to a better product before completion, without penalty. Your broker can monitor this for you, so you're not having to watch the market yourself.

On the other hand, if rates rise after you've locked in, you're protected. The rate you agreed is the rate you get.

Either way, having something secured early puts you in a far stronger position than waiting and hoping the market moves in your favour.

What Does the Rate Landscape Look Like Right Now?

Mortgage rates have been through a period of significant change in recent years, and many homeowners coming off fixed deals taken out two or five years ago are facing a different rate environment to the one they last experienced.

The sooner you understand what your next deal could look like, and what the monthly payment difference might be, the more time you have to plan for it. There are no surprises, no last-minute panic, and no decisions made under pressure.

Getting a clear picture now, even if you don't act immediately, costs nothing and gives you considerably more control over what happens next.

Your Deal Ending Isn't the Only Reason to Review

It's also worth knowing that an upcoming remortgage isn't the only reason to have a conversation about your mortgage right now.

If your property has increased in value since you last remortgaged, your loan-to-value ratio may have improved, which could open up better rates than you currently have access to. If your income has increased, you may be able to borrow more, or access products that weren't available to you before. And if your circumstances have changed in any way; a new job, a change in family situation, plans to make home improvements - a remortgage conversation is a good opportunity to make sure your mortgage is still working as hard as it should be for you.

How Endurance Mortgages Can Help

At Endurance Mortgages, we keep track of our clients' mortgage end dates so nothing creeps up unexpectedly. When the time is right, we search across the market to find the most competitive deal available for your circumstances, not just the deal your existing lender happens to be offering.

We'll show you clearly what your options look like, what the monthly payment difference would be, and whether locking something in now makes sense for you. If rates improve before your deal starts, we'll let you know and review your options accordingly.

You don't need to wait for your lender to write to you. And you definitely don't need to wait until you're weeks away from reverting to an SVR.

If your mortgage deal is ending before June 2027, speak to Endurance Mortgages today. Locking in a rate now could be one of the simplest ways to protect your finances over the next few years.

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Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Endurance Mortgages Ltd is an Appointed Representative of BrokerSync Ltd, which is authorised and regulated by the Financial Conduct Authority (1031981). Registered in England and Wales no. 15060351. Registered Address: Worting House, Church Lane, Basingstoke, Hampshire RG23 8PX.